Miamism Blog

You are here

Miami Shores Real Estate Market Report - April 2020

How is the Miami Shores Real Estate Market Doing?

There are currently 102 homes for sale: (compared to 92 last month)

Highest priced listing is $3,975,000 for the perfectly remodeled home at 1460 NE 103 St. (not quite bay front, but second home in from the bay) with 4 bedrooms / 4.5 bathrooms, 3,750 SF on 17,945 SF lot with 122' of water frontage.

Lowest priced listing is $324,000 for the 2/1 fixer upper located at 19 NW 109th St.

836 NE 100 St - super clean and newly remodeled home by golf course with 3 bedrooms / 2 bathrooms, 2,061 SF on 8,850 SF lot. Originally listed for $775,000 in September of 2018, reduced to $749,000 in October of 2019 and selling for $735,000 ($357/SF)

141 NW 96 St - gorgeous 50's home with 2 bedrooms / 2 bathrooms, 1,996 SF on 8,625 SF lot. Originally listed for $797,000 in August of 2018, increased to $823,000 a few months later, then decreased again several times and sold for $680,000 ($334/SF) **cash transaction

Miami Shores Opinion

Last month's sales panorama paints the perfect picture of what is going on in Miami Shores. Homes EAST of Biscayne Boulevard are selling above $400/SF - homes that need work are selling in the low $300/high $200's per square foot. Location is key for determining price - main roads like North Miami Avenue, NE 2nd Avenue will dictate a major price reduction, no matter the condition. This is key when you are ready to buy or sell - there's a reason REALTORS talk about "location, location, location"!

The average discount in Miami Shores remains low at 6% which means the difference between list and sales price. It's interesting to note that inventory is beginning to increase, while demand has remained strong. This should not reflect a lowering in prices unless demand drops a great deal. We do not expect prices to be affected at all by the current pandemic situation since it is NOT a housing crisis - on the contrary, shelter is the most valuable asset we have at this time with "shelter in place" order by local authorities.

It is interesting to note that we have a 24.4% investor ownership in Miami Shores, which goes hand in hand with the 26% cash deals. Miami Shores remains a primary residence area with few second home and investor owners.

Please note that it is still a buyer's market with about 8 months of inventory right now. Let's see what next month brings and we do hope that you are safe at home.

Remember that serious buyers are out there right now and we are being more thorough about pre-qualifying anyone that wants to see properties for ours and your safety.

To ge a copy of our 3D-market analyzer report, please click HEREor contact us with your address and we'll be happy to provide a physical copy.

Neighborhood Information

Recent Posts

Our Miami Freedom Tower stands for so much and this image by John Burgos of Blue Sky 305 is so appropriate for what we're going through right now.
This is the moment, more than ever, that we need to stand together #... more

How is the Miami Shores Real Estate Market Doing?
There are currently 92 homes for sale: (compared to 102 last month)
Highest priced listing is $3,975,000 $3,500,000 for the perfectly remodeled home at 1460 NE 103 St. (not... more

It's that time of the year again and it's crucial for you to prepare your home early for what may possibly be an active weather season. Fortunately, Miami-Dade provides a comprehensive guide for hurricane readiness.... more